By Dan Spalding
News Now Warsaw
WINONA LAKE — Plug and Play Warsaw put on a display of innovative proposals by seven start-ups Tuesday that are seeking to establish themselves in the evolving med tech sector.
Held at the Miller Sunset Pavilion in Winona Lake with a large crowd in attendance, the expo was a unique glimpse into what possibly lies ahead in the industry.
(Check out recaps of proposals at the bottom of the story)
Plug and Play is the premier global innovation platform that connects startups with corporations, universities and venture capital firms.
Tuesday’s event highlighted the first such batch of firms participating in the new Plug and Play office in Indiana which was sponsored by Zimmer Biomet, Paragon Medical and Orthopediatrics.
“It’s a big day for Warsaw for sure,” said Bob Vitoux, chief executive officer of OrthoWorx who was credited at the meeting with helping bring Plug and Play to Warsaw.
“It’s symbolic of where we’re headed as a community — just a lot of energy. We believe winning begets winning and this is a step in that direction,” Votoux said.
Vitoux spoke to the audience and alluded to the $30 million set aside by the Indiana General Assembly for Orthoworx to attract and retain orthopedic firms to the area and told onlookers there are “30 million reasons” to consider Warsaw as a corporate home.
Seven of eight startups that were part of the first “Medtech Batch” highlighted a variety of concepts, with most looking for infusions of money and — for some — to eventually be acquired by an established orthopedic firm.
The emerging companies pitched proposals ranging from imaging collection to the tracking of medical history. Some relied on artificial intelligence. Two companies focused on solutions for damaged cartilage while another put forth a plan to develop a smart implant device that is adjustable.
Indiana State government was represented at the meeting by David Watkins, senior vice president of Entrepreneurship & Small Business with the Indiana Economic Development Corporation.
Plug and Play in Warsaw is the first in Indiana, but officials said more such sites are in the works for eight other communities. Those will focus on life sciences, hard tech, sports tech and animal health, according to a graphic displayed at the event.
Plug and Play in Warsaw established itself six months ago and Watkins described the interest since then as a “barn burner.”
Given the history of orthopedics in Warsaw, Watkins asked rhetorically, ‘Why wouldn’t Plug and Play want to be here?”
Officials concede many of the startups will eventually look elsewhere to establish their companies, but local officials, including State Rep. Craig Snow, hope firms will consider sinking their roots into the Orthopedic Capital of the World.
“I think that’s the goal. We really want to build out an ecosystem, have companies come in, entrepreneurially to start up here and more importantly to stay here,” Snow said.
Another highlight of the meeting was a speech by Ben Lytle, a former CEO of Anthem who has authored the book, The Potentialist, which looks at life-altering changes in the next 30 years.
After hearing pitches on Tuesday, officials will gather in a more private setting on Wednesday to meet with the next nine companies seeking to be part of the Plug and Play.
Below are recaps from seven of the eight participating startups.
